Attacks on Cryptocurrency Operations Increase

As found in a recent study by Information Systems Audit and Control Association (ISACA), the number of cyber attacks continues to increase. These attacks are mostly centered on cryptocurrency operations while there are fewer attacks on ransomware.

The latest research on the ISACA state of cybersecurity 2018 research showed that in a total of 2,366 security leaders which they’ve surveyed, abouy half lf them reiterated a rising nimber in the cyberattack volume which is similar to last year.

Also, 80% or the majority of the participants expressed that they are truly likely to encounter yet another attack this year.

“The researchers noted a significant decline in the number of ransomware attacks despite the jump in cyber attacks across industries. In 2017, some 62% of those surveyed reported experiencing a ransomware attack, but the figure dropped to 45% of this year’s respondents who said they were attacked,” the report stated.

Furthermore, the research also discovered the about 4 out of 10 security personnels lack sufficient information on active defense strategies such as honeypots and in sinkholes. But over 50% of the respondent had claims on some familiarity.

“This is a missed opportunity for security leaders and their organizations. ISACA’s research indicates that active defense strategies are one of the most effective countermeasures to cyber attacks. A full 87 percent of those who use them indicate that they were successful,” said Frank Downs, director of cybersecurity of ISACA.

Rise in cryptojacking

An earlier report conduch by Malwarebytes found that the threat of cryptojacking continues to grow in popularity as compared to various kinds of cryptocurrency-related attacks on malware.

The conclusion made on the latest Malwarebyte Cybercrime Tactics and Techniques indicated that the popularity of ransomware has decreased by 35% as compared to the last quarter, while cryptojacking incidence on the other hand rose by 27% on the same quarter.

“A huge spike in September and October 2017 resulted in more than 25 million detections of crypto mining malware on consumer machines. By March, the decline still left us with 16 million detections,” as stated on the report.